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Ursa Finance bears down on UK challenger banks

Ursa Finance, an upcoming business bank in the UK, is getting ready for launch.

The spin-off bank of Ursa Capital

The bank says: “We don’t like what we see in business banking. We have seen business after business across the UK unable to get the financial products that they needed to grow and survive.”

It adds: “We have seen more and more banks treat business customers like numbers instead of people. We have seen more and more automated messages, automated decisions, automated rejections.”

Interesting – unlike the wave of challenger banks and bank modernisations that aims to make every process quick and automated, Ursa leans a different way.

The bank says: “At Ursa, we feel that when you pick up the phone, you should be answered by a person who knows your name and understands your business. We feel that decisions should be made by people, with both numbers and relationships in mind.”

It has been registered in Manchester since January 2017.

According to the UK’s Companies House, it is headed by Arpan Gautam, who also founded the bank’s associated firm, Ursa Capital Partners.

LinkedIn lists Sandeep Jain as CFO, having previously been at Standard Chartered for 20 years, holding the finance director position last.

David Procter is listed as CTO, who worked at bankingtech supplier Sopra Steria until 2016.

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